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Playtech Results Show The Business Is Still Strong
Solid increases in revenues crafted
by expansions into Europe and Asia
Online gambling turnkey provider and software developer Playtech
turned in an impressive set of results this week, almost doubling
pre-tax profit numbers.
The companys full year results saw an annual rise in total revenues
of 89 percent to US$90 million (2005: US$47.6m). Pre-tax profit
rose to $60.8 million for the year ended 31 December from $35.7m
in 2005.
Breaking the numbers down, online casino revenues increased 81
percent to US$77.2 million (2005: US$42.7m), and Internet poker
revenues rose a remarkable 309 percent to US$10.9 million (2005:
US$2.7m).
Excluding US contributions, annual revenues increased 143 percent
to US$55.6 million (2005: US$22.8m).
The report hails expansion in Asia and eastern Europe as an important
contributor to the bottom line. The group offset losses in the USA,
where its online gambling operations were shut down timeously with
the advent of new anti-online gambling legislation, and efforts
and resources were focused on new markets such as Asia.
Playtech also added new products to entice new customers.
"The group's broad international portfolio of clients, especially
in Asia and Europe, meant that the impact of the prompt withdrawal
by its licensees from the US market was greatly reduced," it
said.
"We look forward into 2007 with great enthusiasm and expect
it to be a year of further growth,'' said chief executive officer
Avigur Zmora in a statement.
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